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Environmentally Friendly Insurance for Small Business

If you’ve ever considered owning a small business, or are considering owning one, you’ve probably heard all the usual advice.  Make sure you have enough capital.  Only let family run the cash register.  Don’t take in a partner without an ironclad contract.   Location, location, location. What you may not...

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Keeping Up with the Jones and the Longshore and Harbor Workers’ Compensation Act

Navigating the winding straits of various state workers’ compensation systems can be difficult to do for companies traversing state lines, but what if the company employs people at sea?  If your business employs dockworkers or seamen of any sort, there are two acts you should be aware of. The...

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Sarbanes Oxley – Making the Corporate Jungle Safer?

Depending on whom you talk to, the Sarbanes-Oxley Act of 2002 was either a panacea to cure the ailing stock market and restore trust in Corporate America or a shot to the bow of America’s capitalist vision.  Just what is Sarbanes-Oxley and whom does it affect? Sarbanes-Oxley is a...

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Intellectual Property Liability Is Everywhere – But Where Is The Coverage?

It seems as though virtually anything created can be patented, copyrighted, trademarked or otherwise protected.  Oddly enough, even with patent protection there is danger. It is easy to believe that if you hold a patent, copyright or trademark you cannot possibly infringe on someone else’s intellectual property – but...

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The Malpractice Cap: Order in the Court?

A few years ago, in a relatively small town in a quiet (not known for big lawsuits) area of the country, an Ob/Gyn (Obstetrics and Gynecology) doctor opened his new practice.  In helping the community while beginning to raise his family, he earned $300,000 in his second year.  Only...

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Miscellaneous Professional Liability – What It Is and Why It May Be Right For You

Miscellaneous Professional Liability (MPL) is a catch phrase in the insurance industry for a single, pliable product capable of contorting to the needs of a wide variety of professionals seeking coverage.  Because of its unique nature, MPL has come to mean different things to different people over the years. ...

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Umbrella Coverage: Protect Your Exposed Assets

There’s no doubt that we live in a litigious society.  Jury awards continue to bankrupt individuals and many small companies.  Some trial lawyers constantly search for deep pockets, and reach far and wide for defendants.  Underwriters continue to be amazed to find seemingly unconnected insureds “invited to the dance.”...

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E-conomy, E-mail, E-coverage?

As companies expand the use of the Internet as an everyday business tool, they open themselves up to additional risks, including online copyright infringements, computer viruses, Web site business interruptions, and more. These problems leave companies open for potentially devastating financial setbacks. Consequently, insurance companies are now offering policies...

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The ABCs of E&O Coverage

GL, PL, PI, BI, PD, K & R, EPLI, you name it.  The world of insurance can be a complicated maze of initials and acronyms, which are often seemingly used to confuse the insurance buyer.  Among the hodge-podge of acronyms, nicknames and “short-fors” are E & O and D...

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Liability Insurance: Hired and Non-Owned Auto Policies Provide Necessary Coverage

Non-owned auto coverage and hired auto coverage both provide coverage for you and your business in the event an employee is involved in an accident while working on your clock. But the similarities stop here. These different policies offer very different types of coverage, and it is important to...

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Understanding Directors and Officers (D&O) Liability Insurance

Directors and Officers Liability insurance, or D&O, covers corporate activities. Because a corporation is legally a person, as are the directors and officers who direct it, D&O serves to protect each from liability associated with various actions and inactions. But what happens when corporate interests differ from those of...

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Workers’ Compensation Is Necessary to Protect Businesses and Employees

Because workers’ compensation pays for medical expenses from on-the-job accidents and work-related injuries, it protects both the employer and the employee. In fact, most states require workers’ compensation for certain employer groups. In addition, as insurance agents we strongly recommend all employers carry this coverage (regardless of the number of employees)...

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What Factors Influence Malpractice Premiums?

According to a November 2005 article published in the Insurance Journal entitled, “How to Write the Diverse Business of Lawyers Professional Liability,” between $1.5 and $2 billion is spent annually on Professional Liability coverage. With numbers such as these, it is important that any firm in the market for...

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Worker Found Eligible for Compensation from Seizure Related Injury

In an August 2006 ruling, Connecticut’s Supreme Court ruled that the claimant in the case of Michael G. Blakeslee Jr. vs. Platt Brothers & Co, who was injured when co-workers tried to help during a seizure, is entitled to workers’ compensation benefits. Typically, workplace injuries caused by a seizure...

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Workers’ Comp Employer Costs Rose Faster Than Benefit Payments in 2004

According to a study released in July 2006 by the National Academy of Social Insurance, employer costs for workers’ compensation grew faster than combined cash and medical payments to injured workers in 2004, the most recent year for which data is available. Combined benefit payments for injured workers increased...

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What Should You Consider When Shopping for Lawyer’s Professional Liability Insurance?

Controlling expenses is an important consideration in the management of any law firm, so it isn’t unusual that a firm shopping for liability coverage would take premium rates into consideration. However, even though rates are important, they shouldn’t be the overriding factor in your decision to purchase a particular...

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Proper Maintenance Can Help Businesses Prevent Weather-Related Slips and Falls

It’s that time of the year when snow, sleet and ice are a fairly common occurrence in many parts of the country. Such weather conditions pose serious problems for business owners because walkways become slippery and increase the chances for employees and customers to fall. While you can’t control...

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Third Party Coverage Is a Key Coverage of Employment Practices Liability Insurance

The purpose of third-party coverage in an Employment Practices Liability (EPLI) policy is to protect an organization and its employees from accusations of wrongful acts committed against customers, clients, vendors, and suppliers. Some EPLI policies also cover wrongful acts committed by third parties against the insured’s employees. Harassment and...

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Federal Rules Governing Civil Litigation Require Businesses to Keep Better Tabs on e-Documents

New rules, which took effect on December 1, 2006, require U.S. companies to keep better track of their employees’ e-mails, instant messages and other electronic documents in the event the companies are sued. These new rules are part of amendments to federal guidelines governing civil litigation and were approved...

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More Workers’ Compensation Claims Made As the Result of Work-Related Traffic Accidents

According to the Network of Employers for Traffic Safety, both on- and off-the-job motor vehicle crashes cost employers $60 billion annually from 1998 through 2000. The problem is so widespread, that in a recent study, the National Council on Compensation Insurance Inc (NCCI) noted that traffic accidents are the...

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Is Your Cyber-Policy Really Covering Your Technology-Related Exposures?

As businesses become increasingly reliant on technology to store sensitive information, the incidences of security breaches are becoming more prevalent. Each security breach increases the risk that a lawsuit or regulatory action could financially ruin a company and permanently damage its reputation. The situation is so bad, that some...

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Naturally Occurring Substances Can Expose Construction Firms to Environmental Liability

What do silica, mercury, arsenic, pyrite, and asbestos have in common? They all are recognized as toxic substances, or contain toxic substances as defined by the U.S. Environmental Protection Agency. Their very presence on a construction site presents a serious exposure for a construction contractor. There are potentially hazardous...

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National Council on Compensation Insurance Says Younger Workers Are More Accident Prone

According to a study conducted by the National Council on Compensation Insurance, younger workers have more injuries and illnesses than older workers; but older workers have higher costs per claim. The researchers discovered that age is an important factor in overall claim costs, but the significance of age on...

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Take Steps to Prevent Workplace Bias Claims Before They Happen

The Equal Employment Opportunity Commission recently reported that work-related bias complaints increased to 75,768 during 2006 compared with 75,428 the previous year. Discrimination complaints had previously risen to a seven-year high of 84,442 in 2002, but then steadily decreased from 2003 to 2005. The most frequent complaints have remained...

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The EEOC Strengthens Commitment to Filing Class Action Suits

In 2006, the Equal Employment Opportunity Commission changed its strategy when it announced plans to file more class action suits. This shift was predicated on the decrease in the number of private-sector discrimination-related class action suits and increase in wage-hour class actions. As a result of this decline in...

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